Western Digital 1995 Annual Report Download - page 20

   Consolidated Statements of Cash Flows  .
Years ended
July 1, June 30, June 30,
(in thousands) 1995 1994 1993
C    
Net income (loss) $ 123,302 $ 73,136 $ (25,108)
Adjustments to reconcile net income
(loss) to net cash provided by
(used for) operating activities:
Depreciation and amortization 43,612 46,175 53,741
Changes in current assets and
liabilities net of effects from
the sale of facility (Note 3):
Accounts receivable (102,329) (42,034) (6,887)
Inventories (19,350) 23,793 (5,682)
Prepaid expenses (6,746) (2,130) (3,573)
Accounts payable and accrued
expenses 93,858 74,149 47,236
Deferred income taxes (2,072) 7,133 (3,210)
Other assets (8,958) (1,384) (640)
Net cash provided by operating
activities 121,317 178,838 55,877
C    
Capital expenditures, net (54,774) (16,282) (35,565)
Proceeds from sale of facility (Note 3) — 110,677 —
Increase in short-term investments (90,177) — —
Increase in other assets (6,287) — —
Net cash provided by (used for)
investing activities (151,238) 94,395 (35,565)
C    
Repayment of long-term debt — (146,346) (64,091)
Proceeds from stock offering, net
(Note 7) — 73,293 42,390
Exercise of stock options and
warrants, including tax benefit 9,712 9,467 1,411
Proceeds from ESPP shares issued 5,605 — —
Redemption of convertible
debentures (Note 4) (527) — —
Repurchase of common stock
(Note 7) (10,822) — —
Net cash provided by (used for)
financing activities 3,968 (63,586) (20,290)
Net increase (decrease) in cash
and cash equivalents (25,953) 209,647 22
Cash and cash equivalents at beginning
of year 243,484 33,837 33,815
Cash and cash equivalents at end of year $ 217,531 $ 243,484 $ 33,837
The accompanying notes are an integral part of these financial statements.